• Third quarter numbers rise at Chuck E. Cheese's

IRVING, Texas -- CEC Entertainment, Inc., parent company of Chuck E. Cheese's Pizza, today announced the Company earned $16.2 million or $0.57 per share on a diluted basis for the third quarter ended September 30, 2001.

Third quarter 2001 saw solid improvement over the same period in 2000:

Revenues increased to $141.8 million from $130.3 million;

Net income increased to $16.2 million from $15.3 million;

Earnings per share, on a diluted basis, moved to $0.57 per share from $0.55.

Revenues for the first nine months of 2001 increased to $432.4 million from $390.7 million in the first nine months of 2000. Net income in the first nine months of 2001 increased to $53.7 million from $46.1 million in the same period of 2000. Earnings per share on a diluted basis in the first nine months of 2001 were $1.87 per share compared to $1.66 in the first nine months of 2000.

Richard M. Frank, Chairman and Chief Executive Officer stated that, "Comparable store sales increased 0.5 percent in the third quarter and 2.0 percent on a year-to-date basis due primarily to the continued strong sales performance of Phase 3 remodels," (the latest store redesigns for the Chuck E. Cheese system. Frank expects that 40 percent of the CEC system will bear this design by the end of the year).

Frank also said he was pleased that comparable store sales increased 2.6 percent in August and 1.4 percent in September, despite the softening economy.

Rodney Carter, Chief Financial Officer stated that, "Considering year-to-date results, a difficult economic environment, continued higher cheese costs and utility expenses in the fourth quarter, our current earnings outlook for 2001 is an increase of 15 percent to 16 percent in net income or $2.21 to $2.24 per diluted share, consistent with prior guidance."

Related Content

User Comments – Give us your opinion!
Products & Services

Remote Service | Content Management Service

http://global.networldalliance.com/new/images/products/6685.png

6685/Remote-Service-Content-Management-Service

DriverSafe

http://global.networldalliance.com/new/images/products/keyboard_iix.gif

1424/DriverSafe

Granbury Websites

http://global.networldalliance.com/new/images/products/6815.png

6815/Granbury-Websites

Quad Core Menu Board Media Player - $199

http://global.networldalliance.com/new/images/products/6679.png

6679/Quad-Core-Menu-Board-Media-Player-199

Business Performance Management

http://global.networldalliance.com/new/images/products/6413.png

6413/Business-Performance-Management

Pizza POS Software

http://global.networldalliance.com/new/images/products/5937.png

5937/Pizza-POS-Software

FireFly Point-of-Sale

http://global.networldalliance.com/new/images/products/4282.png

4282/FireFly-Point-of-Sale

Thr!ve Point-of-Sale

http://global.networldalliance.com/new/images/products/6811.png

6811/Thr-ve-Point-of-Sale

HAND-PINCHED STYLE® Sausage and Beef Toppings

http://global.networldalliance.com/new/images/products/6785.png

6785/HAND-PINCHED-STYLE-Sausage-and-Beef-Toppings

Call Center Ordering

http://global.networldalliance.com/new/images/products/5939.png

5939/Call-Center-Ordering

Fast Casual Executive Summit
Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.